PPL SEC Filings

PPL Corp director Armando Zagalo De Lima received 1,628.877 stock units under the company's Directors Deferred Compensation Plan. These stock units are tied to PPL common stock at a reference price of $38.370 per unit and bring his total deferred stock unit holdings to 130,605.692 units.

No exercise or conversion price applies, and the footnotes state that payout of the underlying securities will occur following the director's retirement. The total reported amount also includes the reinvestment of dividends into additional stock units.

PPL Corporation is asking shareowners to vote at its 2026 virtual annual meeting on May 13, 2026. Items include electing nine directors for one-year terms, an advisory say-on-pay vote, approval of the Second Amended and Restated 2012 Stock Incentive Plan, and ratifying Deloitte & Touche LLP as independent auditor for 2026.

The proxy highlights a largely independent board (90% of current directors), an independent chair, majority voting for directors, and extensive governance and sustainability practices, including a net‑zero carbon emissions goal by 2050. A new Safety Committee was formed in early 2026 to oversee workplace safety and culture. Executive pay is heavily performance-based, with 2025 annual cash incentives paying about 116% of target and multi‑year performance units tied to relative total shareholder return, earnings growth, and sustainability metrics paying between 146% and 161% of target. The CEO pay ratio for 2025 was 74:1.

The Vanguard Group filed an amendment on Schedule 13G/A reporting 0 shares beneficially owned of PPL Corp common stock and 0% ownership. The filing explains an internal realignment effective January 12, 2026 that prompted disaggregated reporting by certain Vanguard subsidiaries in reliance on SEC Release No. 34-39538.

PPL Corporation reported that the Federal Energy Regulatory Commission issued Opinion No. 594 revising how returns on equity are set for New England transmission owners. The decision sets a 9.57% base ROE with incentives capped at 12.09%, retroactive to October 16, 2014, and orders refunds with interest for certain affected periods.

The ruling impacts Rhode Island Energy, PPL’s wholly owned utility subsidiary, and PPL is evaluating options, including a possible appeal coordinated with other New England transmission owners. PPL does not expect a material impact on its operations or financial condition and reaffirmed its 2026 earnings forecast of $1.90 to $1.98 per share and a 6% to 8% annual earnings per share growth target through at least 2029, with growth expected near the top of that range.

PPL Electric Utilities, a subsidiary of PPL Corporation, has filed a joint settlement petition with Pennsylvania regulators for its first electric distribution base rate increase since 2016. If approved, the settlement would raise annual base distribution revenues by about $275 million, below the original request of about $356 million.

The proposal is based on a future test year ending June 30, 2027, with new rates targeted to start July 1, 2026, and generally limits further base rate changes for two years after that date. It resets the Distribution System Improvement Charge to 0% and caps it at 5.0% of annual distribution revenues, and raises storm cost recovery in base rates for reportable storms to $32 million annually from $20 million via the Storm Damage Expense Rider.

The settlement backs capitalization of about $54 million of information technology upgrades and creates a new large-load LP-6 tariff for customers such as data centers, including long-term contract requirements, load guarantees and exit fees. This new class would contribute $11 million to residential low-income programs. Additional measures enhance customer assistance and low-income usage reduction programs. The agreement remains subject to Pennsylvania Public Utility Commission review, and it may be approved, denied or modified.

PPL Electric Utilities Corporation, a subsidiary of PPL Corporation, has reached a non‑unanimous settlement in principle in its Pennsylvania electric distribution rate case, an important step in the ongoing regulatory process with the Pennsylvania Public Utility Commission (PUC).

The settlement, filed in a case originally opened on September 30, 2025, resolves all issues among active parties, with only two parties expressing limited opposition related to the company’s proposal on maximum registered peak load. The agreement remains subject to approval by both the Administrative Law Judges and the PUC.

PPL Electric believes the settlement framework will support continued investment in a safe, reliable and resilient electric system while emphasizing customer affordability and service. A Joint Petition for approval of the non‑unanimous settlement is expected to be filed on March 10, and the company continues to anticipate a PUC ruling by the end of the second quarter of 2026, while noting it cannot predict the final outcome.

PPL Corporation entered into an underwriting agreement and completed an offering of 23,000,000 equity units, initially issued as Corporate Units. Each Corporate Unit has a stated amount of $50 and combines a stock purchase contract with interests in two series of PPL Capital Funding’s 4.02% Remarketable Senior Notes due 2034 and 2039.

The stock purchase contracts require holders to buy PPL common stock for $50 in cash per contract no later than February 15, 2029. Holders receive total annual distributions of 7.00% of the $50 stated amount, split between 2.98% contract adjustment payments and 4.02% interest on the notes, which are fully and unconditionally guaranteed by PPL. The securities were issued off a joint shelf registration statement.